Amphenol Corporation $APH Stock Purchased by HFR Wealth Management LLC

HFR Wealth Management LLC raised its holdings in Amphenol Corporation (NYSE:APH) by 92.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 246,215 shares of the electronics maker’s stock after acquiring an additional 118,238 shares during the period. Amphenol makes up 5.4% of HFR Wealth Management LLC’s investment portfolio, making the stock its 3rd largest position. HFR Wealth Management LLC’s holdings in Amphenol were worth $20,756,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. State Street Corp increased its position in shares of Amphenol by 24.2% in the second quarter. State Street Corp now owns 71,281,059 shares of the electronics maker’s stock worth $12,107,146,000 after purchasing an additional 13,884,641 shares during the last quarter. Wellington Management Group LLP raised its stake in Amphenol by 10.5% in the second quarter. Wellington Management Group LLP now owns 16,579,919 shares of the electronics maker’s stock valued at $2,923,371,000 after purchasing an additional 1,578,248 shares in the last quarter. Corient Private Wealth LP raised its stake in Amphenol by 3,010.0% in the second quarter. Corient Private Wealth LP now owns 16,437,431 shares of the electronics maker’s stock valued at $2,898,248,000 after purchasing an additional 15,908,901 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Amphenol by 4.5% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,703,604 shares of the electronics maker’s stock valued at $1,710,939,000 after purchasing an additional 416,388 shares in the last quarter. Finally, Jupiter Topco LLC bought a new stake in Amphenol during the second quarter valued at approximately $1,600,531,000. Institutional investors own 97.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Sanford C. Bernstein reissued an “outperform” rating and issued a $102.00 price target on shares of Amphenol in a research note on Monday, November 2nd. Citigroup reissued a “buy” rating and issued a $115.00 price target (up from $112.00) on shares of Amphenol in a report on Thursday, October 29th. Barclays raised their price objective on shares of Amphenol from $100.00 to $111.00 and gave the company an “overweight” rating in a research report on Monday, November 2nd. Erste Group Bank initiated coverage on shares of Amphenol in a report on Wednesday, October 21st. They set a “buy” rating for the company. Finally, Rothschild & Co Redburn cut their target price on shares of Amphenol from $197.00 to $107.00 in a research report on Friday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Amphenol presently has an average rating of “Buy” and a consensus price target of $107.00.

Insider Buying and Selling at Amphenol

In other news, CEO Richard Norwitt sold 799,576 shares of the business’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $82.48, for a total value of $65,949,028.48. Following the completion of the sale, the chief executive officer directly owned 3,855,014 shares in the company, valued at approximately $317,961,554.72. The trade was a 17.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.42% of the company’s stock.

Amphenol Price Performance

Shares of NYSE APH traded down $1.47 during trading hours on Friday, reaching $78.15. 9,580,870 shares of the stock traded hands, compared to its average volume of 15,824,595. The company has a market capitalization of $192.98 billion, a P/E ratio of 33.98, a price-to-earnings-growth ratio of 0.95 and a beta of 1.27. The company has a quick ratio of 1.42, a current ratio of 1.94 and a debt-to-equity ratio of 0.99. Amphenol Corporation has a 52-week low of $59.01 and a 52-week high of $89.93. The company’s 50-day simple moving average is $81.22 and its two-hundred day simple moving average is $75.57.

Amphenol (NYSE:APH) last released its earnings results on Wednesday, October 28th. The electronics maker reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.07. The company had revenue of $10.23 billion during the quarter, compared to the consensus estimate of $9.49 billion. Amphenol had a return on equity of 42.53% and a net margin of 17.95%. Amphenol’s quarterly revenue was up 65.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.93 EPS. Equities research analysts forecast that Amphenol Corporation will post 2.83 EPS for the current year.

Amphenol Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 13th. Shareholders of record on Tuesday, December 22nd will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.8%. This is a drop from Amphenol’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, December 22nd. Amphenol’s payout ratio is 21.74%.

Amphenol declared that its board has approved a stock buyback plan on Wednesday, October 28th that allows the company to buy back $4 billion in outstanding shares. This buyback authorization allows the electronics maker to reacquire up to 2% of its stock through open market purchases. Share buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Amphenol Profile

Amphenol Corporation designs, manufactures and markets electrical, electronic and fiber-optic connectors, interconnect systems, antennas and sensor products. Its offerings also include cable assemblies and related components used to transmit signals and power in electronic equipment and systems. The company serves customers in a range of markets, including communications and information technology, automotive, aerospace and defense, industrial, mobile devices and data networks. Its products are used in applications such as vehicles, communications infrastructure, commercial aircraft and industrial equipment.